CBI searches TDP leader Sujana Chowdary's home, offices

Hyderabad: Sleuths of the Central Bureau of Investigation (CBI) conducted searches for the second time at the offices and residence of former Union minister of state YS Chowdary is popularly known as Sujana Chowdary. The raid is conducted in connection with the bank loans fraud case involving Best & Crompton Engineering Projects, an electrical equipment company promoted by him.

It can be recalled that Chowdary had appeared before the CBI in Bangalore last month in connection with the case related to defaulting repayment of loans from three public sector banks. He had clarified that he had relinquished positions in all companies promoted by him before becoming the minister in 2014. Earlier, the CBI and Enforcement Directorate had conducted searches at his offices and residence. Chowdary is not named as accused in the case registered by the CBI in February 2017 based on a complaint by Andhra bank. But, his connections with the company as a promoter have been probed.

The company had allegedly obtained Rs 133 Crore from Central Bank of India, Rs 71 Crore from Andhra Bank and Rs 159 Cr from Corporation Bank through fraud accounts and by submitting false statements. The investigating agency is said to have recovered some documents and computer hard disks.

YS Chowdary was the Minister of State for science and technology in the Narendra Modi government from 2014 to 2018 till the Telugu Desam Party broke ties with the NDA.